2019 in review

Top 5 Houston innovation lifestyle stories for 2019

From a new, innovative mixed use development to food and fitness startups, here's what lifestyle innovation trended in Houston this year. Courtesy of The MKT

Innovation surrounds us, from the B2B startups designing software solutions for huge oil and gas corporations to a fitness app that allows users to safely and efficiently book private trainers.

During 2019, InnovationMap published stories on these startups, burgeoning mixed-use spaces, innovative sustainable stores, and more. Here's which of those stories readers flocked to.

Houston hangover pill startup seen on Shark Tank rebrands following multimillion-dollar raise

On his failed investor attempt on Shark Tank, Brooks Powell couldn't secure a shark investment for $400,000. Now, he just closed on $2.1 million for his startup. Courtesy of Cheers

When Brooks Powell's Houston-based startup got passed over by the investors on Shark Tank last year, he didn't let it deter him. Instead, the Houston entrepreneur buckled down and started seeking investments off the screen.

It paid off, and Cheers (née Thrive+) recently closed a $2.1 million seed round. The round was lead by NextView Ventures, which has the likes of TaskRabbit, threadUP, and Letgo among its portfolio.

With the new investment, Brooks says the company is rebranding from Thrive, its original moniker, to Cheers.

"Thrive+ doesn't really say anything about what we did or who we are about," Powell says. "We knew we needed something fitting for the alcohol industry but at the same time has the connotation of fun, responsibility, and health." Continue reading.

Massive mixed-use project to bring creative office and coworking space to the Houston Heights

The MKT expects to revolutionize the live-work-play model with everything from retail and restaurant to office and coworking space. Courtesy of The MKT

On a stroll or a spin down the Heights Hike and Bike Trail, you might not notice a complete transformation is eminent. The MKT — a mixed-use renovation and build out project — is getting ready to break ground.

The five-building, 200,000-square-foot project will bring 30 retail and restaurant concepts, and 100,000 square feet of office space together along with four acres of green space, parking, and an outdoor venue alongside 1,000 linear feet of the trail between North Shepherd Drive and Herkimer Street. The MKT name comes from the Missouri-Kansas-Texas railroad — later known as the Katy Railroad — that was transformed into the Heights Hike and Bike Trail. Continue reading.

5 Houston lifestyle startups changing the way you live, work, and play

From restaurant finding apps to a healthy food startup — these are the lifestyle startups to watch in Houston. Getty Images

While sometimes it seems like a lot of the Houston innovation landscape is energy and medical tech companies, there are several lifestyle-focused startups that fly under the radar. Whether it's a fizzle cocktail creator — or a cure for a hangover from said fizzy cocktail — these five Houston startups are ones to watch. Continue reading.

Houston nonprofit that's upcycling textiles and clothing opens new store

Magpies & Peacocks has prevented over 220,000 pounds of textiles in landfills by upcycling fabrics for new fashion items. The nonprofit now has a new store to keep up with demand. Magpies & Peacocks/Instagram

Magpies & Peacocks, the nation's only nonprofit design house that collects and reuses post consumer textiles, clothing, and accessories, opens their first permanent retail space in Houston on Saturday, June 1. The Co:Lab Marketplace will be located inside the organization's current warehouse space in Houston's East End.

The 6,000-square-foot space holds luxury upcycled sustainable clothing, jewelry, accessories, and home decor, along with partner sustainable and ethical brands. There will also be a bar offering cocktails and coffee, a lounge area, and a capsule gallery featuring the work of local artists.

Sustainability and avoiding unnecessary waste — coupled with fashion — are the goals of the nonprofit, which is also a part of the United Nations Alliance for Sustainable Fashion. Continue reading.

4 fitness-focused Houston startups changing the industry

From what you wear to where you go, here are some Houston fitness startups changing the game. Courtesy of Accel Lifestyle

Houston has developed into a city full of boutique fitness studios and updated parks, and now the city is seeing fitness startups popping up as well. From creating a smell-free fabric to engaging NASA technology into training, these Houston fitness startups are working out innovative ideas into the exercise industry. Continue reading.

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Building Houston

 
 

Plug and Play, an international accelerator and investment group with a presence in Houston, joined a panel to discuss startup investment, networking, and more during the pandemic. Photo by Zview/Getty Images

It's no secret that the spread of COVID-19 has greatly affected startup ecosystems by shutting down coworking and accelerator spaces and providing economic uncertainty in the venture capital world. However, organizations focused on investment and acceleration are still working to virtually guide startups virtually.

Plug and Play Tech Center, an accelerator and investment group based in Silicon Valley that recently launched its Houston presence, is still offering support and even investments to startups as the pandemic continues on. One way they've recently done so is through Houston Exponential on a virtual panel to answer questions from Houston entrepreneurs.

On the panel, Neda Amidi, partner and global head of health at Plug and Play Tech Center, Milad Malek, associate at Plug and Play Ventures, and Payal Patel, director at Plug and Play Houston, discussed concerns and questions about the organization's dedication to Houston, advice amid the pandemic, and more. If you missed it or don't have time to stream the whole conversation, here are some impactful moments of the chat.

“Timing and opportunity set up the Plug and Play Houston office. The mayor and other business leaders in Houston had seen what happens in our Silicon Valley office and with all the things that are going on in the burgeoning startup community in Houston, we saw the opportunity.”

— Patel says on how Houston snagged its very own Plug and Play location. "Given the high concentration of large companies here — as well as the growing number of investment opportunities — we moved quite quickly to open the office here," she adds.

“There’s a number of great entrepreneurs here in this city. I think a missing ingredient has been the number of early stage investments — especially in that Seed or series A stage. So, we hope to make an impact in that. Our CEO has publicly stated that he’d like to make five investments in Houston a year.”

— Patel shares about Plug and Play's investment strategy in Houston. She adds that five investments in Houston a year is the bare minimum, and they actually are striving for more.

“[Investing virtually is] kind of the same process, but we definitely try to make sure we have cameras on and distractions are away, really giving that entrepreneur that same experience as we can in a face-to-face meeting."

— Amidi says on how Plug and Play's investment team approaches investment meetings and pitches during this time. She explains that during the beginning of the pandemic, most of their investments were with companies that had existing relationships with or follow on deals. Now they have made investments in companies they've never met in person. She says Plug and Play has relied on its network to give feedback on these potential deals.

“During COVID, we’ve recommended to a lot of our portfolio companies to raise more than what they needed at the time to be able to power through what’s happening now and what will happen on the economy side as well."

— Amidi says about investment advice they've given to Plug and Play startups.

“A lot of hardware companies get too intense in terms of thinking about one avenue of fundraising. Spend a lot more time thinking about fundraising strategy.”

Malek says on fundraising for hardware startups specifically. He adds that there are other options for generating cash flow, like grants. "Don't forget the business side of things" he adds. "I know early on, a lot of founders are focused on the technology and prototyping, but it's important as well to think about a compelling narrative for potential investors — even if you're pre-revenue."

"For SaaS, it’s important to have a unique differentiation. There are a lot of copy cats in this realm. It’s ok to be doing something that has competitors — every startup has competitors."

— Malek says about software-as-a-service startups pitching to investors. "It's a red flag when we're talking to a startup — especially one with a SaaS product — that says we don't have competitors," he adds, saying it's usually not true.

“A lot of investors out there prefer teams with multiple founders and not just one founder. It never hurts, at least in an investor’s eyes, to have two or three founders.”

— Malek explains, responding to a question about how to begin the process of bringing another co-founder on board. Investors, he says, value a team with diverse backgrounds and expertise.

“Take your time — it’s kind of like picking a spouse or partner. You want to make sure you’re compatible.”

Amidi adds, saying it's an exceptionally difficult process nowadays. She recommends reaching out to your network for leads on a potential co-founder or even looking into sites like AngelList or LinkedIn.

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